Alibaba Group’s Fiscal Year 2020 Annual Report (Source: Alibaba)

Alibaba Group Holding Limited on Friday released its annual report for the fiscal year ended March 31, 2020, which shows its revenue reached 509.7 billion yuan ($71.99 million), up 35.26% year on year.

Alibaba said it achieved a record gross merchandise volume of $1 trillion while it had 780 million annual active consumers in China in the past fiscal year.

“Our next goal is to serve more than 1 billion consumers in China and facilitate more than 10 trillion yuan of consumption on our platforms in the next five years as we continue on the path of globalization,” Alibaba Chairman and CEO Daniel Zhang said. “Our longer-term goals are to serve 2 billion consumers globally, create 100 million jobs and provide the necessary infrastructure to support 10 million small businesses to become profitable on our platforms by 2036.”

Alibaba released its annual report for the fiscal year ended March 31, 2020 (Source: Alibaba)

Founded in 1999, Alibaba celebrated its 20th anniversary last year. The company laid out its vision to be “a good company for 102 years” during the celebration.

Globalization, China’s domestic market growth and database powered by cloud computing will continue to be the company’s focus.

“Alibaba will continue to be a future shaper through its original innovations,” Zhang said. “The ongoing digital transformation of our economy and society will be unstoppable.”

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